Its 3 am and i dont have the brain activity to understand anything anymore. Please be as patronising as possible.
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Economy of scope is when you lower the price of production by making a lot of different things. For example using waste product from production of one product to make different product or using common infrastructure.
Economy of scale is when you lower the price of production by making more of it. There is a lot of fixed cost in making product like development and marketing,…
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